CALGARY, Dec. 17, 2012 /CNW/ - EmberClear Corp. (TSXV: EMB) ("EmberClear" or the "Company") is pleased to announce that it has engaged CCA Capital LLC, a registered broker dealer and wholly owned subsidiary of the CCA Group ("CCA"), headquartered in Boston, MA, to be the Company's advisor and placement agent for the construction and term financing of a 300 MW natural gas combined cycle ("NGCC") facility to be constructed in Good Spring, PA (the "Project"). EmberClear's efforts to obtain all necessary permits and contracts for the financing and construction of the Project now enters the late stage of development and anticipates construction during the third quarter of 2013. The Project will sell generated power into the USA's largest electric power grid, the PJM. Project development has been the responsibility of Future Power PA Inc. ("FPPI"), a wholly owned subsidiary of EmberClear.
Due to the Project's high efficiency and low emissions, the Project is expected to operate as a base load generation facility and will be one of the most competitive power plants in the PJM market. This comes at a time when energy and financial markets anticipate the construction of a new wave of natural gas facilities that capitalize on low natural gas prices, especially in or around the Marcellus Shale region where the Project will be located.
"CCA's track record as a leading financial advisor for power projects puts them in an ideal position to maximize the plant's potential. Having a long history of execution with familiar parties provides a high level of confidence to all stakeholders," said David Anderson, CFO for EmberClear. "The ability to find the optimal financial structure between all parties creates the best path for creating long term value for this project and similar projects in the future."
"We see an emerging positive trend in the capital markets for projects associated with natural gas, particularly in key energy markets such as PJM," added James Stahle, Group Managing Director of CCA Group. "North America remains the most desirable and lowest risk investment region for new thermal generation. We anticipate a significant interest in this natural gas power plant."
"Close proximity to both the Marcellus Shale, the fastest growing gas field, and the PJM Grid, the world's largest electric grid system, makes the Project very attractive," added Mr. James Palumbo, President of FPPI. "With over 18,000 MW of coal-fired generation capacity slated to be decommissioned, our power should help address the challenge of diminishing supplies. We plan to build this state-of-the-art power facility and move the industry to a new level of operating efficiency with noticeable improvements in emissions."
EmberClear is an energy developer specializing in low emission commercial scale projects around the world. Focused primarily on natural gas in the United States as an input to create electricity, industrial chemicals, or transportation fuels characterizes our current plans. We utilize our proven expertise in permitting, site-control, and engineering feasibility to create turnkey projects with contracted returns suitable for long-term owners and operators of long-life capital assets. EmberClear's shares are listed on the TSX Venture Exchange under the trading symbol "EMB".
For more information please visit www.emberclear.com.
About CCA Group
CCA Group is a premier independent investment banking firm and financial advisory firm that provides financial advisory and financial services to issuer and investor clients in the global fixed asset finance market. CCA Group's core focus and experience is in the Power and Energy, Global Transportation, Infrastructure and Commercial/Industrial sectors.
For more information please visit www.ccagp.com.
Forward-Looking Statement Disclaimer
Certain statements contained in this document constitute forward-looking statements or information (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "forecast", "may", "will", "project", "could", "plan", "intend", "should", "believe", "outlook", "potential", "target", "seek", "budget", "predict", "might" and similar words suggesting future events or future performance. All statements other than statements of historical fact may be forward-looking statements. In particular, this document contains forward-looking statements pertaining to, without limitation, the following: statements about our intention and ability to finance, construct and secure long term contracts for power off-take and gas supply of a NGCC plant or other energy project on the property which would economically create power from natural gas, to obtain and maintain permits, to build a state of the art power facility, achieve a new level of operating efficiency with noticeable improvements in emissions, and to be one of the most competitive power plants in the PJM market and operate as a base load facility. With respect to forward-looking statements contained in this document, we have made assumptions regarding, among other things, the following: the economic viability of a NGCC plant or other project; the emissions generated from a NGCC plant; turbine efficiency of a NGCC plant; energy demands; decommissioning of coal-fired generation capacity; emission compliance; regulatory support; natural gas pricing; favourable market conditions for natural gas power plants; positive trends in capital markets for natural gas projects; stable investment conditions in North America; maximizing value of the natural gas project for shareholders; and attracting appropriate financial participants. Although we believe that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause our actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the following: the possibility that EmberClear will not have the financial or other resources to develop, construct, operate or sell such a plant or other project; the possibility that EmberClear will not be able to take advantage of the market trends such as the availability and price of natural gas, electricity pricing and the decommissioning of coal fired plants in the region; and the possibility that CCA Group will not be able to secure equity and debt financing. Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking statements contained in this document speak only as of the date of this document. Except as expressly required by applicable securities laws, we do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
© 2012 EmberClear Corp.
All rights reserved. All other trademarks are the property of their respective owners.
SOURCE: EmberClear Corp.
For further information:
David G. Anderson
Tel: +1 (403) 264-8817